I had multiple problems from the beginning with the lack of communication and disclosure from Balboa and now I see it wasn't just me. In a week, we were up and running with our vendor getting paid on time. We recommend its Equipment Financing loan product if you want to expand and improve business operations through tools or equipment. My attorney is in the process of investigating them. Featured review. You can estimate your loan package with the, While Balboa Capital began by working with small businesses, it has expanded to include some services for large businesses as well. If I did have a fair market lease why would I have to pay the county taxes? In addition to its small business finance, Balboa Capital offers: Each prospective borrower should have a goodcredit scoreand own at least 1/5thof the enterprise. Balboa Capital review: lied about $1 buyout and extra charge. Theres also no required personal credit score identified on their website, but your business should be established for a minimum of one year. A primary benefit of using Balboa is that you can get the capital business funding that you need quickly, without being subject to some of the stipulations that banks or investors might require. It has a solid track record of financing small businesses across diverse industries. The BalboaCapital.com website links to three sources of reviews: YouTube testimonials, the BBB, and Trustpilot.com. I asked the Rep - I had requested no more payments and I am not using these servers (leased equipment) for the last 7-8 months, you need to pick them up or I can send wherever you need these sent. Capital Services has reviewed the complaint and concluded that the tradeline may have been listed to an incorrect party by the bureau. Get Details. I was a victim of Wells Fargo credit and also of lenders which my ex employees signed fraudulently. Biggest mistake we have ever made was using this company.. all you have to do is look at the negative reviews all over the web. Bruce denslow Does Balboa Capital Report to Credit Bureaus? On the Balboa Capital YouTube channel, there are over 50 unscripted testimonials from customers in varied industries, including musical instruments, woodworking, health care, and tire repair. Balboa Capital Loan Review: Features, Rates, Requirements, and Customer I would recommend Balboa Capital / Robert Shafer to anyone who needs financing. The lease actually said fair market value. While Balboa Capital began by working with small businesses, it has expanded to include some services for large businesses as well. READ THE CONTRACT or better yet, just stay away. California Attorney General suit names Balboa Capital Corp. and United Leasing Associates of America Ltd. : http://www.lessors.com/news11-Q1/allnews-110301d.html Reply More Balboa Capital reviews & complaints Balboa Capital - not honoring buy out 14 Resolved Balboa Capital - lied about $1 buy out 3 Resolved Balboa Capital - high fees 2 Resolved Balboa Capital - predatory fraudulent loan 1 Balboa Capital - lied about $1 buyout and extra charge 2 Resolved aaaaaaand there ya go. You can expect a response within a business day in some cases. Call us today at (888) BALBOA1 (888-225-2621). Review AdvisoryHQs Termsfor details. "You can't do that" Balboa Capital Review 2023 - Pros, Cons & How To Apply Your rep kept on calling but I am so scared to give out my social security number because I have been ripped off before for a lot of money. Ameris Bank dba Balboa Capital v. Thorpe Excavating, Inc. et al David Bell In this world of uncertainty it is hard to decide on a financial partner. Worst leasing company ever. For more than 15 years we have helped nearly 50000 customers resolve their issues and will never stop striving to ensure further improvements on our platform for a better communication between companies and customers. 1001 Franklin Ave Suite 200, Garden City, NY 11530. As with many customers, there is a mix of positive and negative Balboa Capital reviews online. I urge no one to use this company and as a business community we push to put them out of business. In particular, Balboa Capital gears towardequipment loans, vendor financing, franchise financing, and commercial financing. For more than 15 years we have helped nearly 50000 customers resolve their issues and will never stop striving to ensure further improvements on our platform for a better communication between companies and customers. The A+, in this case, is an excellent rating considering they did have 49 complaints in the past three years. Balboa Capital Customer Login Page - Balboa Capital They are crooks.. do not use them. BL Blank 1 review US May 1, 2023 Fast and Easy Service We received funding to expand our automotive shop. We had an offer letter from balboa capital and decided to give them a try. It is possible to get additional funding before paying off your loan. There customer service department is really not for customers. Case No. The manager was as worse as it can get. $ 5,000 - $ 10,000$ 10,000 - $ 50,000$ 50,000 - $ 100,000$ 100,000 +, StateAlabamaAlaskaAlbertaArizonaArkansasBritish ColumbiaCaliforniaColoradoConnecticutDelawareDistrict of ColumbiaFloridaGeorgiaHawaiiIdahoIllinoisIndianaIowaKansasKentuckyLouisianaMaineManitobaMarylandMassachusettsMichiganMinnesotaMississippiMissouriMontanaNebraskaNevadaNew BrunswickNew HampshireNew JerseyNew MexicoNew YorkNewfoundland and LabradorNorth CarolinaNorth DakotaNorthwest TerritoriesNova ScotiaNunavutOhioOklahomaOntarioOregonPennsylvaniaPrince Edward IslandQuebecRhode IslandSaskatchewanSouth CarolinaSouth DakotaTennesseeTexasUtahVermontVirginiaWashingtonWest VirginiaWisconsinWyoming. Balboa Capital - lied about $1 buyout and extra charge Really bad experience! When starting a new company or business venture, one of the largest obstacles is often funding. Under Trustpilots Non-Bank Financial Service category, Balboa Capital earned 4.3 out of 5 stars. Miguel made an equipment purchase straight forward and was extremely helpful keeping me informed during the whole process. Our timeline was short based on when our equipment would be available and could be installed. We bought a business in 2006 and decided to add a piece of equipment which was priced at $12, 000 in january 2009. Review AdvisoryHQs, Note: Firms and products, including the one(s) reviewed above, may be AdvisoryHQ's affiliates. BALBOA CAPITAL Ripoff Reports, Complaints, Reviews, Scams, Lawsuits and Frauds Reported Your Search: Balboa Capital There may be more reports for "Balboa Capital" For more results perform a general search for "Balboa Capital" Showing 1-19 of 19 Found Reports For more results perform a general search for "Balboa Capital" When he sent over the contracts he marked where to initial and sign, looking back now of course to just get it done without us looking at the fine print. These guys are the worst! Was a pleasure to be with Mark from Balboa capital Very informative and patient will come back for my next investment. Balboa Capital offers small business loans up to $250,000. Date of experience: November 24, 2016 Useful Advertisement BL Babette Lewis, Bookkeeper 1 review US Aug 7, 2017 Balboa Captial Review The process was completed in an efficient and timely manner. She then hung up on me. I give you a million stars for that. It ranked two times in the Inc. Magazines 500, which is a list of fastest-growing private businesses in the country.. Weve been in business since 1988 and have many thousands of satisfied customers. You can find contact details for Balboa Capital above. The agreement numbers are 411644-000 and 411644-001. Hi Mr. Abrams, You can receive an instant credit decision and same-day funding to jumpstart your new venture. Next, we will cover the services that Balboa Capital offers for both small and large businesses. Additionally, they have your bank account info so you have zero recourse. One of the suggestions is getting an alternative loan, like the ones offered at Balboa Capital. They did not like this they would rather harass me on my phone. Everyone was very helpful throughout the process. It also demanded a deposit which, according to some, was not reimbursed. The Start-up investment was $4000, which eventually grew into billions of dollars. Because Balboa insisted on paying the vendors direct (vs reimbursing us when the project was complete) we ended up with it costing less than originally planned. Each time you block them with your bank, they will take money from your account with different subsidiary's name (BCC Funding VII, VIII, Pawnee Leasing Corporation, Financial Pacific Leasing, etc) Many are happy with their services, but many complaints are lingering around the corporation. If I were to deal with an ethical company - they will never ask such un-practical questions. As a fintech, it worked with Aruba, a Hewlett Packard Enterprise Company, to streamline services by improving Wi-Fi security and performance in the fintechs headquarters at 575 Anton Boulevard, Costa Mesa, California. and its use herein is for reference purposes only and it does not indicate sponsorship or endorsement from Balboa Capital Corporation. Borrowers could also potentially boost their credit since Balboa reports to the credit bureaus. I have called repeatedly to get this fixed but no one will return my call or take the effort to get it fixed. My experience with Balboa was amazing. Since its inception, Balboa Capital has provided around $5 billion to small businesses. Lacking in communication, lacking in care, lacking in most areas for the most part. The BBB has 53 complaints on record and five negative customer reviews. Balboa Capital reviews first appeared on Complaints Board on Jun 8, 2009. Showing all 69 reviews. "But the contract doesn't say anything about a termination fee" As with all important financial decisions, proceed with caution. This company has been calling me every day since I requested information. Balboa Capitals team will verify the data they received. We will synthesize a number of Balboa Capital reviews in order to summarize the overall feedback about the company and highlight the Balboa Capital complaints that you need to know about. The first complaint is them charging over $2000 in fees not disclosed at the time of the lease. What Financing Products Does Balboa Offer? If you are an owner trying to compare lenders and their business loan offerings, you can use the loan calculators on Balboa Capitals website. Executive Team - Balboa Capital I'm a contractor in MA and I leased a used JLG Lift for $14, 500 in March 2009 for 5yrs w/ Balboa via Financial Pacific. The ratings at TrustPilot.com are also generally in favor of the company. 2. After I still made payment after term was up thinking that I would get a rebate after thet straightened out their paper work. Apply online for funding You can apply online for any of the business funding products that we offer. 5. For example, one customer said they were told there were no early payment penalties but were charged a fee for paying off their loan early. You PRIDE yourself on scamming your customers. This is a very underhanded way of extorting money from small companies who cannot legally afford to fight them. Thank you! There is an origination fee, and they also file aUCC lien. We have many Balboa Capital reviews provided by some of our highly satisfied customers, which can be viewed at the link below: What Do Balboa Capital Reviews Typically Focus On? Balboa Capital charges small business owners additional fees apart from loan interest rates. As the founder and Chief Executive Officer of Balboa Capital, Patrick Byrne oversees all aspects of the company's strategic direction and goals while ensuring operational excellence within every department. After we complete this contract I will be approaching them for future needs. I requested that they send the information to my email as I use my phones for work all day and would rather not speak in person until I have reviewed what they have to offer. In our contract, we have to give written notice between 270 days to 180 days, or they will rob you for another year, which is pure profit to them They will never send you any instructions where to return the equipment as they want to forcefully enroll you in a lease for 4 more payments over and over again (This is their internal game). When he didn't meet an agreed a pond closing date he went off the deep end and yelled and threatened me about losing my $13,000 down payment. This comment was posted by a verified customer. Although the fintech has broad leeway in terms of considering businesses, the following industries are ones that it avoids working with: gambling, adult entertainment, oil or gas extraction, durablemedical businesses, boats, and aviation. They also started the lease with first and last payments in advance, then charged me a late fee on the first payment stating that the 2 months advance was for the end of the lease. They will frequently try to add junk charges on their invoices - For Example - they will add charges for insurance even though insurance has been always covered and proofs sent to them. The first loan experience was LACKING. FaceBook page: https://www.facebook.com/BalboaCapitalCorp/reviews/ I barely escaped the clutches of this con job, DO NOT use Balboa - if you do, you are a fool. Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and have determined that this proposed action would not resolve my complaint For your reference, details of the offer I reviewed appear below Balboa Capital is not following the terms of agreement Lease terms and conditions on page one states . And to top it off they are charging us $55 extra a month for property ins we are a storage facility (of course we have damn good ins), it is none of their business what our ins is nor is it their business to provide ins for us when i did not ask them for it. BALBOA CAPITAL - 125 Reviews - 575 Anton Blvd, Costa Mesa - Yelp I have a lawyer and always send all info for anything that I will have to sign. Share your photos and videos with others to prove the truth of your words. Since opening our doors, we have provided close to $5 billion in funding to businesses nationwide, and we have earned a reputation for outstanding customer service. AdvisoryHQ (All Rights Reserved). Guys, be aware of Balboa Capital Corporation. They are very notorious in charging extra fees anytime they can if you don't catch them. 41 Diversity + Add a Review Balboa Capital Account Executive Reviews Updated May 26, 2023 Filter by Topic Remote Work Work Life Balance Management Coworkers Career Development Compensation Culture Workplace Benefits Senior Leadership Diversity & Inclusion Covid 19 Search Reviews Search Reviews Clear All English Account Executive Filter Balboa Capital Corporation: Defendant: Red Rooster Trucking, Inc. and Milos Milic: Case Number: 8:2023cv01148: Filed: June 27, 2023: . Business.com hailed Balboa Capital as the Best Alternative Lender for Small Business in 2018. Application-only for hard collateral up to $500,000 Application-only for soft collateral up to $350,000 I would advise people NOT to use Balboa Capital as there are many more fair and honest leasing companies out there.. Job Title. Wtf do you say to that. I thought this was rude and disrespectful. Some customers have reported that a simple process with same-day funding is possible if you work with your account manager to promptly get quick approval. For more than 15 years we have helped nearly 50000 customers resolve their issues and will never stop striving to ensure further improvements on our platform for a better communication between companies and customers. This complaint was posted by a verified customer. They think their buy out price at the end of the lease is a new truck. Balboa Capital is a financial services company based in Irvine, California. Click here to get notifications about new complaints of Balboa Capital. So I picked up the phone and with a short wait time, my questions were answered. Balboa Capital is a direct lender and not a brokerage. However, if you need quick cash, you might consider applying to other lenders offering small business loans or equipment financing. Submit a complaint and get your issue resolved. About 4 months ago, I decided to upgrade one of my medical lasers at my office through a vendor ( Cutera, Inc. Pleasanton, CA) towards the end of March 2016. This will surely increase the credibility of your complaint. Mass Fax Class Action Case against Balboa Capital: http://beforeitsnews.com/business/2012/02/mass-fax-class-action-case-against-balboa-capital-1736282.html Balboa capital has a very deceptive business practice. We are a top-rated business lender that can provide fast funding to finance vehicles, technology, software, machinery, and other equipment for your small business. We issued our termination notice 60 days prior to the end of lease date. I called Greg F. the account exec and he agreed to change to a buyout so that I could get my 100percent write off. Missouri. I am seriously considering initiation of a class action suit with a reputable contingent fee law firm. Rishi was utmost professional and pleasant person to work with. I don't feel sorry for mr. Stockton, but i'm sure he won't make that mistake again! Balboa Capital's comprehensive financing capabilities include equipment leasing, small business loans, commercial financing, vendor financing, and franchise financing. A visionary entrepreneur, Mr. Byrne launched Balboa Capital in 1988 with a mere $4,000, and it became one of the largest and most . After reading all of this bad comments about the bolboa ripoff people and complaints about how they scam people into their contract and rip them off and you the only one that comment good things about this poop ### company BOLBOA Capital Co. You must be one of their members scam tons of innocent people that are naive and in need of helps such a LOSER.! The company has loaned over $4.8 billion since it was founded and now operates out of four locations nationwide with over 200 employees. We already are considering legal options due to their past history. Balboa Capital is pleased that we were able to successfully resolve the issue that you had with our company. The girl that called was pushy and hung up on me. Initial Complaint. On, Reasonable efforts have been made by AdvisoryHQ to present accurate information, however all info is presented without warranty. The repayment term is 3 to 18 months with factor rates of 1.1 to 1.2. Business Equipment Financing has attractive terms for owners who want to improve business operations with the help of specific tools or machines. Since I knew that gettinga loan for almost My issue is very similar to many who have posted. Be sure to answer the questions about your personal background and business performance as accurately as possible. Simple and streamlined application process. A business should be operating for at least 12 months. So now we have the option to return the equipment (That we still need and thought we'd paid for) , or pay that amount. Like other savvy consumers, you probably want to find out if these services are a Balboa Capital scam. There is one customer rebuttal defending the company. Don't expect them to give you back the 2 months deposit you paid them up front. ComplaintsBoard.com is a leading complaint resolution website on the Internet. When contracts came i signed but neglected to notice the lack of the dollar buyout. Short-term loans and lines of credit products can have daily or weekly payments, making it challenging for small business owners to keep their cash flow healthy. Balboa is terrible. We had financed a new piece of equipment with Balboa Capital about year and half ago and were lead to believe we were signing up for a $1 buyout of the equipment but realized later the paperwork stated fair market value buyout. T what the fcuk is wrong with you ! Very rightfully - this lender HAS ZERO customer service. In order to thoroughly provide you with what you need to know about Balboa Capital, we will begin with a brief description of the companys history. As a result, the funding process became quicker and more efficient. There are many different options for acquiring funds, and with so many choices, it is important to do significant research before making any financial decisions. Also review each firms site for the most updated data, rates and info. This company needs to be shut down! This could be an indication of a very positive reputation. Balboa offers franchise loans to companies in many different industries, and it has been specifically recommended by Fundera.com as one of the best lease companies for loans for franchise restaurants. Learn more about Balboa Capital and its products by browsing the services it offers. We have ALL of our paperwork in order, hired an attorney and are fixing to go to battle with these crooks! After long consideration, research and a lot of grilling this team, I took the plug. I was told today they sent a letter to me back in July and I never responded and was my fault if I didn't understand my lease. Problem after problem want return phone calls. Then they called from a private number because they knew I would at least pick up and speak with them. However, some clients claim that they could not reimburse the deposit from Balboa Capital after the loan was paid. Over $7 billion funded Nationwide coverage 200+ employees Single point-of-contact Industry expertise Small business funding in three simple steps. Equipment Co. To Pay Up To $3.3M To Settle Fax Spam Suit: http://www.law360.com/articles/490509/equipment-co-to-pay-up-to-3-3m-to-settle-fax-spam-suit This, despite a software addendum in the lease that specifically excludes software from any residual interest. Once AGAIN i told her that the person she needed to speak with was gone. Inc.com suggests other ways of funding. During the following years, Balboa Capital expanded its services to include small business loans, commercial and franchise financing, and merchant cash advances. Thank you! 2.9 Pay & Benefits. At the end of the term, you usually have the option to return, exchange or buy the equipment or extend the lease. Do not lease anything from this company! "What is this $479 fee?" Fast funding and simple application process. As a result of this rapid growth, Balboa was ranked at 67/500 on Inc. Magazines list of the fastest-growing private companies of 1993. Since Balboa Capital reports to credit bureaus, business owners also have the chance to improve their credit scores if they stick to their repayment schedule. However ComplaintsBoard has detected that: You deserve this in lieu of how you treated me as a patient. The only reason people lease is their credit is bad from not paying their debts. A parked website may be a sign that the website owner is no longer actively maintaining or developing the site, and there is a risk that the site could be a scam. Youll need to start making payments immediately if you have a daily payment schedule. Approximately $5 billion has been loaned out by Balboa Capital to small firms since the company began. The complaint has been investigated and resolved to the customers satisfaction. Balboa Capital Reviews - What You Need to Know - AdvisoryHQ Therefore, we conclude that if you need business funds, it may be worthwhile to speak to a representative at Balboa Capital and find out exactly what the company can do for you. Business Loans Lender Reviews Balboa Capital Review. Please email us at customerservice@balbloacapital.com, or call us at [protected]. Our company developed an intuitive online platform that saves time and simplifies the entire process. As soon as you finish the application process and have satisfied the requirements, Balboa Capital will decide whether to approve or decline your business loan. I like it when so many stupid people lease without reading everything. Account representative, brenden gibbs, told me their would not be an early termination fee. Balboa Capital Review Balboa Capital was founded in 1988 and is based in Costa Mesa, CA. Some customers complained of hidden fees when attempting to pay off their loans early. My Name is Dr. Mehran Tavakoli, and I have two offices in Portland, OR and Vancouver, WA. Balboa Capital. I called them and was told that my buyout price on the previous equipment would roll in to the new lease. Dont Miss: OnDeck Reviews What You Need to Know Before Using OnDeck. The BalboaCapital.com website highlights four main reasons why equipment leasing might be right for your business venture: The application for an equipment lease takes less than a minute to complete. Its important to note that your business will guarantee the loan so that you wont be personally liable. It also runs a. Resolved. My business learned the hard, way. I trusted them and signed without reading the fine print so, it was my fault. Having relaxed requirements is good, but the additional fees are burdensome. Apart from the additional charges and upfront costs, there were other fees, such as insurance andsales tax, including a termination fee of $479. The BBB allows you to file a complaint online with just a few easy steps: Search for the company's name, and specifically search for the location where you did business if it's a nationwide business. As a result of this rapid growth, Balboa was ranked at 67/500 on, During the following years, Balboa Capital expanded its services to include small business loans, commercial and franchise financing, and merchant cash advances. We should form a coalition and and file a c lass action suit. About Us - Balboa Capital I made the final payment last month. Once your loan gets funded, the repayment schedule depends on the loan type. When the contract was finally signed, it was with some different contract person that came to the house with the paperwork all ready to be signed. Despite a high level of trust, our investigation found issues with Balboa Capital's service, including poor customer service, lack of accountability, and responsibility to resolve complaints. Language. The latest review sales call was posted on Apr 10, 2019. They demanded a payoff amount in excess of 15k on an expired software lease. In this Balboa Capital review, well answer the following questions and more: Balboa Capital is a direct lender that caters to small business owners through its three main loan types: short-term loans, business lines of credit, and equipment financing. Other users claimed they were charged a non-insurance fee even after sending proof of insurance coverage. At the beginning they did as we agreed, but 3 months ago they started to take larger sum. We are 90 days away from our lease end and account manager michelle who is extremely rude, sent our buyout amount: $12, 126.46!
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